Mass. foreclosures double in first half of 2008

BOSTON — Home foreclosures more than doubled in the state during the first half of 2008, with the number up by 50 percent in June.

BOSTON — Home foreclosures more than doubled in the state during the first half of 2008, with the number up by 50 percent in June.

The Warren Group said Wednesday that in the first six months of the year, 6,707 foreclosure deeds were recorded, more than double the 3,083 deeds recorded in the same period a year ago.

Deeds — the final step in a foreclosure — also increased to 1,131 in June, up from 756 in June 2007.

Petitions to foreclose — the first step in the process — fell sharply during June, 350 petitions compared with 2,308 a year ago.

The Warren Group attributed the drop to a new state law that created a 90-day cooling off period before foreclosure proceedings can begin in court. Previously, those proceedings could begin within 30 days after a borrower went into default.